"No Investor Comes For One Day": Paytm's Vijay Shekhar Sharma On Weak Market Debut
Paytm founder Vijay Shekhar Sharma spoke to NDTV over the company's market debut after India's biggest-ever IPO. The mobile payments giant lost more than a quarter of its value on its market debut Thursday after raising $2.5 billion in the country's biggest-ever IPO, as traders questioned whether the loss-making firm would ever turn a profit.
Vijay Shekhar Sharma, once named India's youngest billionaire, wiped tears from his eyes when the national anthem was played at an opening ceremony before trading began at the Bombay Stock Exchange.
Here are the highlights of VIjay Shekhar Sharma's interview:
I broke down because the term "Bharat Bhagya Vidhaata" touch a nerve inside me. This national anthem line just brings tears in my eyes, as the meaning resonates with what we do at our company.
This is the time in history when Indians are building technology for Indians. And this technology will then get exported.
There is no doubt that a payments company can expand to insurance, investments. We need to explain the business model of our company, and execute that business model.
No investor comes for one day. We should not say investors lost wealth. One day's loss not the whole picture.
We have to do a good job in explaining the model and it's just the first day.
We are growing on revenue, we are growing on margin. We are expanding and we will continue to expand.
Stock market deserves good quality company, and creates good revenue generation.
The investment that we doing is on engineering and sales people. We could switch to profit if we don't invest in customer acquisition and new technology. That is a choice we are making.
There is always someone to help those in startup ecosystem, whenever there is some trouble with any of the ministries.
India is proving the point that it is a big market to list your company.
India will become a sustainable place for tech companies which will generate more employment.
My advice to the Finance Minister would be, "Keep doing what you are doing."
The beauty of India entrepreneurs is that we understand the landscape of India much better.
40% of Paytm was bought for 8 lakh rupees at one point.
If we don't build it, someone else will build it. And I believe that we can build it. I do believe that soon we will achieve the 'Great Indian Dream' to build technology for India.
Soon there will be a term called the 'Great Indian Dream'.
I am an avid music listener. For me, this is a big big moment to pull off this IPO. Few more classical songs to listen to, and then go back to working hard.
Vijay Shekhar Sharma, once named India's youngest billionaire, wiped tears from his eyes when the national anthem was played at an opening ceremony before trading began at the Bombay Stock Exchange.
Here are the highlights of VIjay Shekhar Sharma's interview:
I broke down because the term "Bharat Bhagya Vidhaata" touch a nerve inside me. This national anthem line just brings tears in my eyes, as the meaning resonates with what we do at our company.
This is the time in history when Indians are building technology for Indians. And this technology will then get exported.
There is no doubt that a payments company can expand to insurance, investments. We need to explain the business model of our company, and execute that business model.
No investor comes for one day. We should not say investors lost wealth. One day's loss not the whole picture.
We have to do a good job in explaining the model and it's just the first day.
We are growing on revenue, we are growing on margin. We are expanding and we will continue to expand.
Stock market deserves good quality company, and creates good revenue generation.
The investment that we doing is on engineering and sales people. We could switch to profit if we don't invest in customer acquisition and new technology. That is a choice we are making.
There is always someone to help those in startup ecosystem, whenever there is some trouble with any of the ministries.
India is proving the point that it is a big market to list your company.
India will become a sustainable place for tech companies which will generate more employment.
My advice to the Finance Minister would be, "Keep doing what you are doing."
The beauty of India entrepreneurs is that we understand the landscape of India much better.
40% of Paytm was bought for 8 lakh rupees at one point.
If we don't build it, someone else will build it. And I believe that we can build it. I do believe that soon we will achieve the 'Great Indian Dream' to build technology for India.
Soon there will be a term called the 'Great Indian Dream'.
I am an avid music listener. For me, this is a big big moment to pull off this IPO. Few more classical songs to listen to, and then go back to working hard.
